What happens if I don't have an estate plan?

If you don’t have an estate plan in California, the state has laws in place that determine how your assets will be distributed upon your death. As a result, family members may not receive assets in the way you would have liked. Furthermore, the court system may become involved in the process, resulting in a lengthy and expensive process for your loved ones, as well as expensive legal fees. Without a will or other estate planning document, the state’s intestate succession laws will come into play. Your assets will be divided according to the state’s rules for distributing property. This means that if you are not married, your children will receive part of your estate. If you are married, your spouse will receive a portion of your estate. Only after the spouse’s portion is distributed will the remainder go to your children. If you have no living relatives, or if they cannot be located, the state will take your remaining assets. It is important to note that without an estate plan, you will have no say in who receives your property or in what manner it is distributed. In addition to financial considerations, without an estate plan you may not have anyone to make decisions on your behalf if you become incapacitated. This could mean family members having to go through the court system to gain control over your finances or medical care. Having an estate plan in place is crucial to ensure that your wishes are respected and that your loved ones are taken care of after your death. An experienced estate planning attorney can help you devise a plan that meets your needs and those of your family.

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What happens if I don't have an estate plan?

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